Nvidia stock crosses $3 trillion market cap, overtakes Apple as second-largest co. in US market

) stock rose as much as 5% on Wednesday to reach a record high, giving the company a market cap above $3 trillion and making it the third stock to reach this milestone, joining Apple , and others use its hardware to power everything from their cloud-based AI offerings for customers to their own AI models and services.adjusted earnings per share of $6.12 on revenue of $26 billion, jumps of 461% and 262%, respectively, from the same period a year ago.

Nvidia is also contending with growing competition from its own customers, as Amazon, Google, and Microsoft seek to wean themselves off of their dependence on the company's chips and save on capital expenditures while they're at it. Emails show Elon Musk diverted a $500 million shipment of Nvidia chips intended for Tesla to X instead

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia on verge of overtaking Apple as No. 2 most valuable companyThe latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Nvidia set to overtake Apple as world’s second-most valuable companyKingmaker behind the AI revolution takes on the iPhone maker that has ruled Wall Street for decades
Source: globeandmail - 🏆 5. / 92 Read more »

Nvidia set to overtake Apple as world's second-most valuable companyExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Nvidia set to overtake Apple as world's second-most valuable companyNvidia could soon surpass Apple to become the world's second-most valuable company, as the kingmaker behind the AI revolution takes on the iPhone maker that ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

AI darling Nvidia's market value surges closer to AppleExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

AI darling Nvidia’s market value surges closer to AppleChipmaker jumps to record high
Source: globeandmail - 🏆 5. / 92 Read more »